The GBPUSD awaits new declines - Analysis - 20-09-2023
The GBPUSD pair continues to fluctuate around 1.2400 level, settling below it, while the EMA50 forms continuous negative pressure against the price, waiting to resume the bearish wave that its next main target located at 1.2310.
The bearish channel supports the continuation of the bearish wave on the longer-term basis and head to achieve negative targets that surpass the above-mentioned level, reminding you that breaching 1.2435 will lead the price to rise on the intraday basis and head to visit 1.2505 before any new negative attempt.
The expected trading range for today is between 1.2300 support and 1.2445 resistance.
The expected trend for today: Bearish
The EURUSD tests the channel’s resistance - 20-09-2023
The EURUSD pair tested the bearish channel’s resistance and consolidates below it, noticing that the EMA50 supports the strength of this resistance, waiting to resume the expected bearish trend for the upcoming period, which targets 1.0635 followed by 1.0515 after breaking the previous level.
Stochastic current positivity might cause some temporary sideways fluctuation before turning back to decline again, noting that breaching 1.0705 will stop the expected decline and lead the price to achieve intraday gains that reach 1.0785 before any new negative attempt.
The expected trading range for today is between 1.0590 support and 1.0740 resistance.
The expected trend for today: Bearish
Midday update for the NZDUSD 19-09-2023
The NZDUSD pair started to breach 0.5935 level now, to reinforce the expectations of continuing the bullish trend efficiently for the rest of the day, waiting to achieve our expected target at 0.6020, supported by the EMA50 that carries the price from below, reminding you that the continuation of the bullish wave requires holding above 0.5900.
The expected trading range for today is between 0.5880 support and 0.5980 resistance
The expected trend for today: Bullish
Midday update for the AUDUSD 19-09-2023
The AUDUSD pair shows positive trades in attempt to resume the expected bullish trend for today, to move away from the intraday bullish channel’s support line, waiting for more rise to achieve our main expected target at 0.6545.
On the other hand, we should note that breaking 0.6400 will stop the expected positive scenario and push the price to turn to decline.
The expected trading range for today is between 0.6390 support and 0.6490 resistance
The expected trend for today: Bullish